Janet Yellen and Mario Draghi Warn Against Regulatory Cuts, Trade Moves

Janet Yellen and Mario Draghi Warn Against Regulatory Cuts, Trade Moves

Janet Yellen and Mario Draghi Warn Against Regulatory Cuts, Trade Moves

Yellen did not mention monetary policy in her speech, leaving investors to wonder when the next interest rate hike would be. While, the dollar declined after Federal Reserve Chair Janet Yellen made no reference to USA monetary policy in her speech at the annual central bank research conference in Jackson Hole, Wyoming.

Yellen reviewed the wreckage caused by the 2008 financial crisis, including the loss of almost nine million jobs, and warned of the consequences of forgetting the damage done to the US and global economies.

Stocks climb after highly anticipated Janet Yellen speech at Jackson Hole. The Canadian dollar was trading at C$1.2478 to the greenback, up from the previous session's close and higher against other major counterparts.

USD/JPY is supported around 109.00 levels and now trading at 109.27 levels.

Janet Yellen puts 'stake in the ground'
Treasury Secretary Steven Mnuchin said he is "100% confident" the debt ceiling will be raised in time . Likewise, markets reacted to Yellen's comments by lowering bets for a Fed rate hike this year.

Yellen told bankers that regulatory reforms enacted after the financial crisis a decade ago have strengthened the banking system without impeding economic growth. A batch of mixed USA economic figures have cast a shadow on the nation's economic recovery, driving some investors to dial back bets on an interest rate increase this year.

Fresh competition worries hit Ahold and other European retail stocks on Friday with euro strength weighing on the broader market as speeches by central bankers at the Jackson Hole gathering in the USA came into focus. The Nasdaq ended up slightly down for the day.

Her speech to the world's top central bankers in Jackson Hole, Wyoming, comes at a time when the chaos at the White House may make it more likely that she would be appointed to serve another four years to head the US central bank.

The Dow Jones Industrial Average .DJI closed up 30.27 points, or 0.14 percent, to 21,813.67.

New travel warning for Mexico over violence, crime threat
Specifically, the government referenced gun battles taking place in public spaces during the day and carjackings where criminals run vehicles off the road at high speeds.

Some saw Yellen's emphatic defense Friday of the regulatory structure imposed on banks since the 2008 crisis as lessening the likelihood that Trump will reappoint her.

USA benchmark 10-year Treasury notes gained 5/32 in price to yield 2.178 percent, down from 2.194 percent on Thursday.

European Central Bank President Mario Draghi is also due to deliver remarks to the symposium Friday, but analysts said they expected both central bank chiefs to avoid policy pronouncements that could touch off market jitters.

Carefully scripted remarks by the world's leading central bankers on Friday left the dollar lower but had a muted effect on global stocks, while crude prices rose as monster Hurricane Harvey approached the US Gulf Coast oil hubs. At 10:28AM ET (14:28GMT), gold for December delivery on the Comex division of the New York Mercantile Exchange gained $2.84 cents, or 0.22%, to trade at $1,294.84, compared to $1,286.43 before the remarks were released.

49ers to release Ahmad Brooks
And the 49ers have a host of those players for their new defense, which will be in sub formations roughly two-thirds of the time. Brooks departure means that Navorro Bowman is the only defensive player remaining on the 49ers that started in Super Bowl 47.

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